The Rothschild family, a long-term shareholder in "The Economist" magazine, has initiated the formal process to sell its 26.7 percent stake in the company. The sale is reported to generate approximately 400 million British pounds.
The editorial board reports that British businesswoman Lynn Forester de Rothschild has put all of the family's shares in "The Economist Group" up for sale. Currently, the family's stake amounts to 26.7 percent of the total shares and up to 20 percent of the voting rights. After the sale is completed, "The Economist" is expected to be valued at 800 million British pounds.
The magazine's other major shareholder is "Exor," a financial holding company belonging to Italy's famous Agnelli family. Representatives of the Rothschild family have begun negotiations with family offices and strategic investors in the US and the UK. The sale is planned to be finalized by the end of this year.